CHF/PLN may rise 157 - 220 pips

Our pivot point is at 4.2856.

Our preference

The upside prevails as long as 4.2856 is support.

Alternative scenario

The downside breakout of 4.2856 would call for 4.2751 and 4.2688.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.2954 and 4.2938).

Supports and resistances

4.3334 **

4.3271 *

4.3208 **

4.3145

4.2988 last

4.2898

4.2856 **

4.2751 *

4.2688 **

Number of asterisks represents the strength of support and resistance levels.